Resource Guide
What are Corporations Looking for From Women-Owned Businesses?
Corporations are looking for the same thing from women’s business enterprises that they seek in any business negotiation: a good price and high quality. They also recognize the changing role of women and minorities as corporate stakeholders, and want to respond by ensuring diversity among their suppliers. Very few of the corporations surveyed point to the issue of social responsibility in their efforts to diversify their supplier base. It is truly a business decision.
The numbers tell the story A third of corporations surveyed (33%) said they work with women- and minority-owned business enterprises (W/MBEs) because these suppliers offer competitive prices and quality products and services. Almost half (41%) attributed changing demographics to their decision to work with W/MBEs. Very few corporations (8%) seek out W/MBEs only because it is the socially responsible thing to do.
Citation
Center for Women’s Business Research. “What are Corporations Looking for From Women-Owned Businesses?.” Washington, DC.